Nose Candy Dealers Cold Call Bankers For Business
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Apparently, when times were good (and banker bonuses plentiful), cocaine dealers could pick and choose who to do business with. A client who had the wrong kind of accent, or wore the wrong kind of clothes, or lived in the wrong place, would often be ignored. But not anymore. It now appears that the pushers have bankers on speed-dial, often cold calling them to see if they want / can afford any nose candy. And where dealers once graced New York's finest apartments displaying their wares, some are now found in City parks, appearing from behind trees in an effort to obtain some business. One banker told the magazine: 'None of my friends mess with that (cocaine) anymore. It's like they grew up overnight, when the banks died'.
In the meantime, The Wall Street Journal reports that SocGen trader Jerome Kerviel, the trader who was responsible for that $7.2bn equity derivatives trading loss sustained by the bank last year, will now face trial on criminal charges. The case will probably be heard some time next year. Kerviel faces up to 5 years in clink if found guilty of wrongdoing.
Finally, Metro reports that around 5,400 City / finance professionals are among the 27,000 new account holders who have joined up to trade professionally on eBay in recent months.
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